TransCanada applies for Keystone XL Presidential Permit

TransCanada Corporation has submitted a Presidential Permit application to the U.S. Department of State for approval of the Keystone XL Pipeline.

“This privately funded infrastructure project will help meet America’s growing energy needs as well as create tens of thousands of well-paying jobs and generate substantial economic benefit throughout the U.S. and Canada,” said Russ Girling, TransCanada’s president and chief executive officer. “Keystone XL will strengthen the United States’ energy security and remains in the national interest. The project is an important new piece of modern U.S. infrastructure that secures access to an abundant energy resource produced by a neighbor that shares a commitment to a clean and healthy environment. Numerous studies have shown that pipelines are a safer and more environmentally sound way to transport oil to market than trains and Keystone XL raises the bar on both fronts.”

According to the company, enhanced standards and the most advanced technology will help ensure Keystone XL will be built and operated in the safest manner possible.

Independent forecasts by the U.S. Department of State estimate that Keystone XL will support tens of thousands of direct and indirect jobs and associated income during construction and contribute approximately $3.4 Billion to the U.S. GDP